KuCoin’s Know Your Customer checks will require new users to complete identity verification to access all services, while existing non-KYC users will not be able to deposit.
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Ethereum price won’t see $2K anytime soon, market data suggests
Weak derivatives metrics, and declining TVL and DApps use, put Ethereum bears in a better position to keep ETH price below $2,000.
Ethereum price won’t see $2K anytime soon, market data suggests
The price of Ether (ETH) faced strong resistance at $1,920 after a 17.5% rally between June 15 and June 22. Several factors contributed to the limited upside, including worsening macroeconomic conditions, the regulatory cryptocurrency environment and weaker demand for decentralized applications (DApps) on the Ethereum network.
ETH price faces macroeconomic headwinds
On June 26, a federal judge denied a motion from Binance that could have stopped the United States Securities and Exchange Commission (SEC) from issuing public statements related to the case.
In addition, in its mid-year outlook, HSBC Asset Management’s report warned of an economic downturn in the U.S. in the fourth quarter, followed by a “year of contraction and a European recession in 2024”. The report also noted that “corporate defaults have started to creep up.”
Finally, International Monetary Fund chief economist Gita Gopinath told CNBC on June 27 that central bankers should “continue tightening” by keeping interest rates high for longer than expected.
Ethereum network demand, gas fees drop
Usage of DApps on the Ethereum network failed to gain momentum as gas fees dropped 60%. Notably, the seven-day average transaction cost dropped to $3.7 on June 26, down from $9 four weeks prior.
Sony Network invests in Japanese Web3 startup to spur mass adoption
The deal includes an investment of $3.5 million, a Sony executive moving to Startale Labs and collaboration on new Web3 tools for mass adoption.
BlackRock has ‘50% chance’ of getting spot Bitcoin ETF approved: Analyst
Bloomberg’s senior ETF analyst believes BlackRock has an even chance of getting its Bitcoin ETF green-lit, as Grayscale looks more likely to win its case against the SEC.
Bitcoin miners send record $128M in revenue to exchanges
Bitcoin miners have sent up to 315% of their daily revenue to exchanges but BTC prices are yet to react.
Sui Foundation denies it sold locked staking rewards on Binance
Sui Foundation — the team behind the Sui network and its native SUI token — has denied allegations that the firm unlocked SUI staking rewards and “dumped” them on cryptocurrency exchange Binance .
The Foundation knocked back the claim in a five-part Twitter thread on June 27, stating that none of the locked or non-circulating tokens, including SUI staking rewards had been sold:
"Sui Foundation has not sold staking rewards or any other tokens from locked and non-circulating staked SUI on Binance or otherwise."
"All insider token allocations remain subject to and compliant with their lock ups and other restrictions on transfer,” the foundation added.
Sui is a decentralized proof-of-stake blockchain. Users can stake their Sui tokens to participate in its proof-of-stake mechanism in exchange for more SUI. No minimum staking period is required.
Sui Foundation denies it sold locked staking rewards on Binance
Sui was accused of dumping locked and non-circulating staked SUI tokens on Binance.
Bitcoin price surge will come from retail, not institutions: Fireblocks CEO
Michael Shaulov believes that while recent Bitcoin ETF filings could see new institutional money flow to Bitcoin, that in itself didn't drive previous price surges.
Worldcoin confirms it is the cause of mysterious Safe deployments
Twitter users noticed thousands of Safe deployments to Optimism, leading to speculation that it may be an attack, but the developer of Worldcoin confirmed that this activity was merely an app migration.
Worldcoin confirms it is the cause of mysterious Safe deployments
Twitter users noticed thousands of Safe deployments to Optimism, leading to speculation that it may be an attack, but the developer of Worldcoin confirmed that this activity was merely an app migration.
Nevada financial regulator petitions court to place Prime Trust into receivership
The filing suggested Prime Trust had financial liabilities to its users totaling more than $82 million in fiat and $800,000 in crypto.
New Web3 ID app lets users find each other based on proven interests
Quivr allows users to connect multiple apps, including Spotify, Steam and Instagram, to generate behavior-based badges proving their interests.
New Web3 ID app lets users find each other based on proven interests
Quivr allows users to connect multiple apps, including Spotify, Steam and Instagram, to generate behavior-based badges proving their interests.
Over $204M was lost in Q2 DeFi hacks and scams: Report
More than $208.5 million was lost initially, but approximately $4.5 million was recovered, making the total amount of unrecovered funds over $204 million.
Judge says arguments behind SBF’s motions to dismiss criminal charges are ‘moot or without merit’
Former FTX CEO Sam Bankman-Fried will likely still face 13 criminal counts over two separate trials starting in October 2023 and March 2024.
Japanese and Singaporean regulators join forces on crypto pilot project
"Decentralized financial ecosystem continues to develop in complexity, and it is important to address emerging risks," said FSA official Mamoru Yanase.
Trader weighs in on possible Bitcoin price drivers for remainder of 2023
A popular name on Twitter, trader Michaël van de Poppe was interviewed for the 10th episode of Cointelegraph’s Crypto Trading Secrets podcast.
Gary Gensler is hurting the little guys for Wall Street
Securities and Exchange Commission Chair Gary Gensler is working to protect someone, but it’s not American investors.
Web3 firms are spending up to $25M on HK crypto licenses: Report
VASP expenditures are varying between 20 million to 200 million Hong Kong dollars as firms scramble to find Web3 talent for licensing.